Gold prices rose slightly during the Asian session on Friday after it saw a sharp drop to its lowest level in four months yesterday before shrinking the losses from the closure in light of the dollar’s decline levels.
At exactly at 03:15 GMT, the price of gold traded at $ 1166.00 an ounce after recording the highest at $ 1166.80 an ounce and was today’s session opened at the level of $ 1164.70 an ounce, comes after gold prices fell yesterday to its lowest level since four months at $ 1155.80 an ounce before closing at $ 1163.50 an ounce.
Gold prices levels fell yesterday in light of the continued crisis in Greece impact on investor sentiment in the financial markets and push them to not to go to the gold and the search for high-yielding investments compared with gold, which is a store of value without providing a return.
While shrinking the low yesterday at the close of the turns during the Asian session today to rise after the decline of the dollar levels because of the American Declaration of the economy for the employment sector data less than expected which pushed gold to take advantage of the inverse relationship between him and the dollar.
We saw the dollar index, which measures the dollar’s performance against a basket of six currencies decline since the beginning of today’s session to trade at 96.07 level after the record lows at 96.00 this comes after falling yesterday to 95.46 level before closing at 96.11.